• Fast Track

    • Fast Track Image

      You could buy your first home sooner and save on mortgage insurance

      Ideal for: First home buyer

      The support of family is priceless and when they’re happy to act as guarantors on your property purchase, they could help you buy your home quicker than you thought and save you thousands in mortgage insurance.

      With RAMS Fast Track not only can you borrow the full purchase price (or valuation if lower) but you could also save thousands in lender’s mortgage insurance costs. A Guarantor – a parent or sibling of the applicant - simply needs to provide RAMS with a limited guarantee supported by a registered mortgage1 over their property, for an amount calculated as 125% of the total loan amount, less the property purchase price (or valuation if lower).

      Key benefits for the borrower:

      • Depending on your circumstances, there maybe no need to save a deposit. Where the LVR exceeds 85% evidence of 5% genuine savings is required.
      • Available to fund renovations or home improvements2
      • Could save yourself thousands on lender's mortgage insurance costs.
      • Available on home loans for owner occupier plus investment purposes (excludes Line of Credit and Self-employed Low Doc loans). Can be used for Construction purposes where a fixed price contract and plans are supplied.

      Key benefits for the guarantor:

      • Only liable for the agreed amount under the guarantee (i.e. not the full loan amount) plus reasonable enforcement expenses.  
      • Not liable for scheduled monthly repayments.
      • RAMS will consider a borrower's application to release the Guarantor. In exercising its discretion, RAMS will take into consideration the LVR and RAMS lending criteria applicable at the time. Fees apply.
      •  
        Ideal for
        Interest rate p.a.
        Comparison rate* p.a. A nominal interest rate incorporating certain fees and charges to help consumers identify and compare the true cost of a home loan
        Min loan
        size
        Redraw
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        Full Feature Home Loan

        All you'll ever need in a home loan

        Owner-occupiers, first home buyers, refinancers  Popular5.85% Variable5.92% $15,000   Yes

        Fixed Rate Home Loan

        The easy way to fix your loan

        First home buyers, investors.4.89% 2 year
        fixed rate
        5.96% $15,000Yes

        Discount Home Loan

        Save with a discounted interest rate

        First home buyers, owner occupiers, investors4.65% 1st year
        variable
        rate
        4.99% $50,000   Yes

        Low rate home loan

        No fuss, no frills, low rate

        First home buyers, owner occupiers  Popular5.19% 5.25% $15,000   Yes

        Investor home loan

        Reach your investment goals

        Investors5.10% Variable5.39% $15,000   Yes
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    • DISCLAIMER:

      * Please note: The comparison rate is calculated on a secured loan of $150,000 with a term of 25 years with monthly principal and interest repayments. WARNING: This comparison rate is true only for examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. ^myRAMS is not available to Companies and Trusts and is subject to systems availability.

      Fees, conditions and lending criteria apply. 1 The mortgage provided by the guarantor must either be a registered first mortgage, or a registered second mortgage behind Westpac (including St.George Bank, Bank of Melbourne and BankSA), CBA, BankWest, ANZ, NAB, Adelaide Bank, Suncorp Bank, Bank of Queensland or Homeside where the guarantor is a parent, or a registered second mortgage behind Westpac (including St.George Bank, Bank of Melbourne and BankSA) where the guarantor is a sibling. Other conditions apply. 2 The requirement for funds for renovations or home improvements must be evidenced by a fixed price contract.